Applied Digital Co. (NASDAQ:APLD) Short Interest Update

by · The Cerbat Gem

Applied Digital Co. (NASDAQ:APLD – Get Free Report) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 16,700,000 shares, a drop of 12.8% from the May 31st total of 19,150,000 shares. Based on an average daily trading volume, of 4,670,000 shares, the short-interest ratio is currently 3.6 days. Approximately 16.6% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Lake Street Capital decreased their target price on shares of Applied Digital from $19.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research note on Friday, June 14th. Roth Mkm lifted their price objective on shares of Applied Digital from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, June 24th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Applied Digital in a research note on Wednesday, June 12th. Finally, B. Riley lifted their price objective on shares of Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $8.40.

View Our Latest Report on APLD

Applied Digital Stock Down 4.6 %

Shares of APLD stock traded down $0.29 on Friday, hitting $5.95. The company’s stock had a trading volume of 8,825,732 shares, compared to its average volume of 6,734,423. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.30 and a quick ratio of 0.30. Applied Digital has a fifty-two week low of $2.36 and a fifty-two week high of $11.07. The firm’s fifty day moving average price is $4.19 and its 200-day moving average price is $4.72. The stock has a market capitalization of $816.40 million, a price-to-earnings ratio of -7.53 and a beta of 4.38.

Applied Digital (NASDAQ:APLD – Get Free Report) last announced its earnings results on Thursday, April 11th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.40). The firm had revenue of $43.35 million during the quarter, compared to the consensus estimate of $50.36 million. Applied Digital had a negative return on equity of 75.46% and a negative net margin of 61.84%. Research analysts anticipate that Applied Digital will post -1.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Applied Digital by 380.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,017 shares of the company’s stock worth $54,000 after acquiring an additional 6,347 shares during the period. Capstone Investment Advisors LLC bought a new position in Applied Digital in the 4th quarter worth $78,000. Principal Financial Group Inc. bought a new position in Applied Digital in the 1st quarter worth $50,000. ICA Group Wealth Management LLC bought a new position in Applied Digital in the 4th quarter worth $81,000. Finally, Chesapeake Capital Corp IL bought a new position in shares of Applied Digital during the 4th quarter worth about $86,000. Institutional investors own 65.67% of the company’s stock.

About Applied Digital

(Get Free Report)

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.

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